WorkingPoint Introduction

WorkingPoint is a relatively new accounting software that boasts features you see with more expensive, established software programs – yet they are a fraction of the cost. The cheap price doesn’t have to worry you though, because they are highly functional, user-friendly and offer an impressive list of new features to come.

A new cloud-based accounting program constantly adding features that rival the biggest names in online accounting.

Accounting and Business Tasks: (Rating: 9/10)

You can input bills and then pay for those bills through your WorkingPoint accounting software – something you don’t get with all programs.

WorkingPoint does work on an accrual basis rather than cash basis – which may be an issue if your business needs cash rather than accrual. You also get a list of accounts with WorkingPoint and you can create, edit or delete accounts to better suit your business. This will, however, take some time to setup especially if you have specific accounts you need.

It does sync up with over 19000 financial institutions so you can automatically import transactions and categorize them and you can create rules for future transactions, but there is an issue with PayPal. When I transferred PayPal transactions, it didn’t account for the PayPal fee – while other accounting programs download and account for the fee.

Invoicing: (Rating: 10/10)

Invoicing is impressive with WorkingPoint. You can create a quote in the Invoicing tab and then automatically transfer it into an invoice. You can also setup recurring invoices – something you are often charged extra for. You can set your settings in WorkingPoint as well to establish things like your motto or headline, payment terms, etc. You can opt for paperless or print the invoice and mail it. They also let you add the PayPal app so that you can automatically accept payments via PayPal in WorkingPoint.

WorkingPoint also lets you set up payment reminders automatically. You can set how often the reminder is sent, the subject and customize the email message to clients when they receive it. If the invoice isn’t paid within a set number of days, the reminder automatically sends out.

You can also add multiple currencies, sales tax rates, etc. to your invoices and then choose to hide them based on who you are invoicing.

Management: (Rating: 8/10)

There is an impressive number of management features with WorkingPoint – and they become more impressive when you consider the price. For starters, inventory is included with the higher priced plan – which is only $19 per month. You can track products, services and even materials in this inventory section.

You can also track bills, vendors, contacts and payments.

Purchase orders are also an option with WorkingPoint.

There’s no employee management tools at this time unless you add the app and third-party subscription. You cannot integrate WorkingPoint into a POS at this time, but hopefully they add it soon.

Ease of Use: (Rating: 9/10)

The program is very easy to use, but not easy to look at. I will not lie, WorkingPoint has one of the more unattractive dashboards – though I’ve seen worse.

That being said, they do have widgets you can add/delete from the dashboard so that you can better customize it and even view certain accounts/reports. You can also quickly bill, create a quote, etc. from the dashboard.

Access: (Rating: 9/10)

WorkingPoint is just like other cloud-based programs – you can access it from any device that has an internet connection. They also just recently added a mobile app last year that lets you do everything from your WorkingPoint account – except receipt capture.

You cannot have an accountant access your WorkingPoint Account unless you have the Thunderstorm plan that gives you the chance to add more than one user. Then, you can add as many users as you want and even set their access limits, such as marketing, accounting, purchasing or even assign them an accountant profile so they can run reports.

Taxes: (Rating: 8/10)

When it comes to taxes, WorkingPoint is a provider that finally gets it. While they cannot file taxes for you, they have several reports that help at tax time and they are one of the few to offer Estimated Tax Reports, 1099 Reports and Schedule C reports.

You cannot do any payroll taxes unless you use their third party app integration – which is a different company and price altogether. But, at least they make an effort at making tax time even easier – and also include freelancers who may need the estimated quarterly tax reports and Schedule C.

Pricing: (Rating: 9/10)

There is a 30-day free trial with WorkingPoint.

If you opt for annual pricing, you get two months for free.

WorkingPoint’s Lightning plan starts at $9 per month or $99 per year. You are limited to just one user per account and you can only send 10 invoices per month. This may not be an issue for freelancers and small businesses that don’t invoice frequently, but for those that do, 10 invoices is not nearly enough.

The Thunderstorm plan starts at $19 per month or $190 per year and offers unlimited invoicing, unlimited user accounts, recurring invoices, tax reports and the ability to collect payments via PayPal. Considering the price and the features that come with it, $19 per month is extremely affordable and impressive.

Customer Service: (Rating: 9/10)

The knowledgebase for WorkingPoint is quite impressive. Any time I had a question, the question was answered in that knowledgebase. You can search it, browse by topic, etc. It’s very in-depth and easy to navigate.

If you need to contact support, you can do so right from the dashboard. You have the option of contacting them directly via email or contact form, researching the forums or searching their help center for step by step instructions. They also offer their Twitter handle so you can get info right away – and they do respond.

Platforms Supported

Mobile

Help and Support

What Type of Business Could Use This Software?

WorkingPoint is perfect for freelancers and independent contractors, but also offers the versatility a small to medium-sized business would need. It works for companies that sell inventory (such as retail) and even for those that bill by the hour – especially with a time tracking tool.

The only issue is payroll and the lack of payroll support, but if you sign up for their third party app for payroll services, you get a discount.

Overall, we’d recommend WorkingPoint for single entrepreneurs and freelancers as well as small business owners that are looking for better inventory control and those that don’t mind using a third party widget to access payroll features.

WorkingPoint Pricing

Lightning: Offers basic accounting features (invoicing, expenses, income, etc.), inventory management, contact management, customizable dashboard, integrates with payroll and email marketing. 1 user and sends up to 10 invoices per month. No tax reports or recurring invoicing and no PayPal payments. Starts at $9 per month or $99 per year.

Thunderstorm: Includes the features of Lightening as well as unlimited users, unlimited invoices, recurring invoice plans, tax reports and collecting payments with invoice. Starts at $19 per month or $190 per year.

What We Like About WorkingPoint

Estimated Quarterly Tax Payments: If you freelance or you don’t have the luxury of filing your taxes separately, you are required to pay quarterly estimated tax payments. Very few – and I will say it again, very few – accounting programs address this. Most, in fact, ignore it.

Update Information: Have you ever wondered when a software program will add a new feature or if they are listening to customer concerns? WorkingPoint has their WP Lab tab that actually tells you the features people requested and when they will release them – that way you know what new features will be coming soon to your WorkingPoint account. This level of transparency is rather refreshing. You’ll need to turn on the WorkingPoint Labs to access the new features that have already been released, but that’s quick and easy to do.

Real Time Tracking: There are plenty of software programs out there saying the offer “time tracking” but what they really mean is you can manually input your time per project/client and bill. WorkingPoint has true time tracking and a time tracker app. You can even input your hourly rate, edit the timer, add internal notes, and then add them to the invoice automatically.

Dropbox Integration: You can add your Dropbox right to WorkingPoint and if you want to skip paying for receipt management, you can scan your receipts and store them in a Dropbox folder, then access that folder at any time. A few things you can use the Dropbox to attach files to include invoices, bills, items, purchase orders, and quotes.

What We Don't Like About WorkingPoint

PayPal Doesn’t Include Fees: If you integrate your WorkingPoint account with PayPal, you can automatically download transactions. When clients pay via PayPal on your WorkingPoint invoice, the matching invoice will show up in your transaction center so that you can combine them. But, the PayPal fees do not transfer over anywhere with WorkingPoint. This means you’ll have to manually add the transaction after pairing up the invoice and PayPal payment received. Hopefully they can fix this in the future.

No Receipt Attachment: You cannot attach a receipt to the expense in WorkingPoint; instead, you need to add your Shoeboxed app to your account. Shoeboxed gives you unlimited storage, but you can only scan 5 documents per month with the free account; therefore, this may be too limiting for businesses that have multiple expenses they need to attach receipts to. After that, Shoeboxed ranges from $9.95 per month to $49.95 per month – an added expense that some people don’t need to hassle with.

Review Summary

8.9Total Score

Accounting for freelance and small business.

WorkingPoint offers features that can apply to both small business owners and independent contractors. From estimated quarterly tax payments to tax preparation reports, the features and great price make them something to consider.

Shailynn is a word slinger, chef, Pinterest addict and adult coloring book collector. As our Operations Manager and Senior Researcher/Editor, you will find Shailynn busy finding new companies and topics to research, but also handling the crazy day-to-day on the backend – and by crazy…we mean all of us.
She attended the International Culinary Institute, where she studied pastry arts and she worked as an executive pastry chef before hanging up her chef’s hat and decided to work from home as a writer. She is a fanatic for a great cup of coffee or wonderful glass of wine!
Shailynn is a mother of three and married to a handsome firefighter.

Lightning: Offers basic accounting features (invoicing, expenses, income, etc.), inventory management, contact management, customizable dashboard, integrates with payroll and email marketing. 1 user and sends up to 10 invoices per month. No tax reports or recurring invoicing and no PayPal payments. Starts at $9 per month or $99 per year.

Thunderstorm: Includes the features of Lightening as well as unlimited users, unlimited invoices, recurring invoice plans, tax reports and collecting payments with invoice. Starts at $19 per month or $190 per year.